Gladiator's High-Grade Copper-Gold Intercepts Reinforce the Strategic Case for Canada's Next Tier-1 Copper Resource

• Gladiator Metals (TSX-V: GLAD) continues to confirm near-surface high-grade copper-gold continuity at Cowley Park, with recent intercepts of 14.0m @ 2.36% Cu and 2.78 g/t Au.
• Drilling validates the Southern Limb's 400m strike continuity, extending mineralization by 150m east, while advancing toward a maiden NI 43-101 resource in Q2 2026.
• Significant co-product credits from gold, silver, and molybdenum materially enhance project economics, transitioning the story from copper-only to a multi-metal value proposition.
• Permitting momentum, led by a YESAB recommendation to proceed with the Class 3 permit in October 2025, marks a key de-risking step, unlocking expanded drilling and future resource definition.
• Backed by approximately $27M cash as of October 2025 and institutional investors (Dynamic, Mackenzie, Macquarie, Orimco), Gladiator's fully funded 50,000m drill program for 2026 strengthens its position as a potential cornerstone in Canada's copper development pipeline.

Copper's Critical Role in the Energy Transition & Supply Security

Global copper demand faces intensifying pressure from electrification infrastructure, electric vehicle production, and grid modernization programs across developed economies. Institutional investors increasingly prioritize jurisdictions with established regulatory frameworks and permitting transparency when allocating capital to copper development projects, creating strategic advantages for Canadian copper developers operating in stable regulatory environments.

Within this context, Gladiator Metals advances the Whitehorse Copper Project in Canada's Yukon Territory, a historically productive copper district that produced 267.5 million pounds of copper between 1967 and 1982. The company's recent Phase 2 drilling results at Cowley Park validate the potential for a modern, high-grade copper resource with near-surface mineralization that supports favorable development economics.

Gladiator's Cowley Park Results Confirm High-Grade Continuity

Consistency from Near Surface

Gladiator Metals' Phase 2 drilling program at Cowley Park demonstrates sustained high-grade copper-gold mineralization across 16 drill holes totaling 4,837 metres, as announced October 29, 2025. The most significant intercept, CPG-102D3, returned 14.0m @ 2.36% Cu, 2.78 g/t Au, 22.37 g/t Ag, and 1,516 ppm Mo starting at just 33m depth. Within this interval, an 8.0m section graded 3.58% Cu and 4.80 g/t Au, 34.10g/t Ag & 1,865 ppm Mo from 35.0m, underscoring both the grade quality and near-surface accessibility that positions Cowley Park favorably for potential open-pit development.

Additional drilling reinforces this continuity. CPG-099 returned 20.0m @ 1.72% Cu from 136.0m, including 14.0m @ 2.21% Cu with accompanying gold, silver, and molybdenum credits. CPG-097 intersected 47.1m @ 0.69% Cu from 126.5m, with higher-grade zones including 5.2m @ 1.88% Cu and 0.28 g/t Au from 157.2m. These intercepts demonstrate consistent mineralization across the Southern Limb, extending the known high-grade corridor by more than 150m to the east.

Importantly, Gladiator emphasizes that reported intervals represent downhole widths rather than true widths, reflecting the complex skarn geometry where grade distribution relates to the contact geometry between granodiorite intrusions and sedimentary host rocks. This technical transparency aligns with institutional reporting standards and supports confidence in future resource estimation.

Geological Implications for Resource Growth

The continuity validated across Cowley Park's Southern Limb reinforces Gladiator's geological model, which identifies copper-skarn mineralization associated with the contact zone between the Whitehorse Batholith and sedimentary units of the Laberge Group. Historical production from the Whitehorse Copper Belt totaled 10.5 million tonnes mined at an average grade of 1.5% Cu plus 0.75 g/t Au, demonstrating the district's mineral endowment.

Current drilling emphasizes endoskarn mineralization, copper mineralization within the intrusive granodiorite, which previous operators systematically undertested. Recognition of this mineralization style expands the resource potential beyond the exoskarn zones that dominated historical mining. The consistency of mineralization across multiple drill holes, combined with near-surface depths averaging 50m to 150m, builds confidence in defining an initial inferred resource.

Cowley Park has emerged as the cornerstone of Gladiator's exploration strategy. Director and Chief Executive Officer Jason Bontempo has articulated the project's significance within the broader Whitehorse Copper Belt:

"Cowley Park had approximately 200 holes drilled by Hudbay, a previous operator of the project. From digitizing a whole bunch of old dusty boxes and records in boxes, we soon realized that Cowley Park had the initial start of a very attractive high-grade copper resource at surface."

Economic Leverage from Co-Product Credits

Gladiator's recent drilling confirms substantial co-product contributions that materially enhance Cowley Park's economic profile beyond copper-only scenarios. Gold grades reaching 2.78 g/t Au, silver concentrations of 22.37 g/t Ag, and molybdenum values up to 1,516 ppm Mo represent potential revenue streams subject to future metallurgical testing and recovery optimization.

The increasing gold grades encountered in eastern drilling strengthen the investment thesis. Molybdenum concentrations ranging from 0.1% to 0.3% Mo represent unusually high values for this co-product, while gold grades approaching one gram per tonne provide meaningful economic contributions.

Chief Executive Officer Jason Bontempo has emphasized the multi-metal value proposition that differentiates Cowley Park:

"The multi-element that it does boast is higher grade molybdenum and then to a lesser extent silver, but the molybdenum can run from 0.1 to 0.3% which is quite high for molybdenum."

Shallow High Grades & Development Potential

Near-surface mineralization starting at 33m depth combined with lateral continuity across 400m of strike length supports potential open-pit development scenarios, subject to future engineering studies. Shallow mineralization may reduce initial capital intensity and shorten development timelines through conventional open-pit mining methods rather than underground extraction.

Gladiator's exploration across the broader Whitehorse Copper Belt, including targets at Best Chance, Arctic Chief, and the Chiefs Trend, offers regional expansion potential. Historical production validates the district's mineral endowment, while modern exploration techniques identify extensions to known mineralization and greenfield discoveries across a 35km corridor.

Permitting & De-Risking Milestones Strengthen Execution Case

In October 2025, the Yukon Environmental and Socio-economic Assessment Board (YESAB) issued a recommendation to proceed with Gladiator's Class 3 permit application for the Whitehorse Copper Project, marking a material de-risking milestone. YESAB's positive recommendation follows comprehensive public consultation and technical review evaluating environmental and socio-economic considerations of the proposed exploration program.

This regulatory advancement transitions the permit application to the Yukon Department of Energy, Mines and Resources for final decision and terms, expected in Q1 2026. The Class 3 permit authorization expands drilling capacity beyond the constraints of the current Class 1 permit, which imposes access restrictions that limit Gladiator's ability to test the full extents of the mineralized system. The five-year Class 3 permit will enable comprehensive infill drilling across identified mineralized zones and lateral extension drilling to test system boundaries with increased drill density flexibility.

This expanded drilling access directly supports Gladiator's timeline for delivering a maiden NI 43-101 resource estimate in Q2 2026. Regulatory transparency and defined timelines reduce execution risk and enhance investor confidence in development milestones.

Strong First Nation Engagement

Gladiator's proactive engagement with the Kwanlin Dün First Nation and Ta'an Kwäch'än Council demonstrates commitment to establishing long-term social license and operational certainty. The company signed a capacity funding agreement with the Kwanlin Dün First Nation in October 2024 and plans to execute an Exploration Co-Operation Agreement with the same community in December 2025.

Early consultation with Indigenous communities mitigates risks of project delays, ensures alignment with community priorities, and establishes frameworks for future agreements that support project advancement through development and production phases. Projects demonstrating substantive community engagement, environmental stewardship, and governance transparency increasingly attract capital from investors implementing ESG mandates across their portfolios.

Financial Strength & Institutional Backing

Gladiator reported a treasury of approximately $27M Canadian as of October 2025, providing financial capacity to execute a fully funded 50,000m drill program through 2026 without near-term dilution. This financial position enables the company to advance both resource definition drilling at Cowley Park and regional exploration across multiple targets including Best Chance, Arctic Chief, Little Chief, and the Chiefs Trend.

Adequate working capital removes execution risk associated with mid-program financings that can delay drilling campaigns, dilute existing shareholders at inopportune valuations, or force compromised drill programs that fail to deliver optimal resource definition. Gladiator's current treasury supports continuous drilling operations through the 2026 maiden resource estimate, maintaining operational momentum that demonstrates management discipline and strategic planning.

As of October 29, 2025, Gladiator operated four drill rigs across the Whitehorse Copper Project, with two rigs operating at Cowley Park and the others conducting exploration on regional targets. The company maintains year-round drilling operations, providing operational continuity that accelerates resource definition timelines.

Institutional Validation

Gladiator's shareholder base includes institutional investors Dynamic, Mackenzie, Macquarie Bank, and Orimco, providing external validation of management credibility and project quality. Institutional participation reflects due diligence processes that evaluate technical merit, management track records, financial capacity, and jurisdictional risk before committing capital.

Institutional investors increasingly concentrate allocations into advanced-stage, de-risked copper developers in stable jurisdictions. This capital allocation trend reflects recognition that early-stage copper exploration faces materially higher execution risk, while developers with defined mineralization, favorable metallurgy, and permitting momentum offer superior risk-adjusted return profiles.

The Broader Whitehorse Copper Belt Opportunity

The Whitehorse Copper Project encompasses a 35km copper belt with more than 30 copper-related occurrences, providing district-scale exploration potential beyond the immediate Cowley Park resource definition. Gladiator's current 29,000m drill program includes systematic testing of regional targets: Valerie, Little Chief, Arctic Chief, Chiefs Trend, and Cub Trend. An additional 20,000m of drilling planned through 2025 advances both resource expansion at Cowley Park and greenfield discovery potential across underexplored portions of the district.

Historical production validates the Whitehorse Copper Belt's mineral endowment. Hudson Bay Mining & Smelting mined 10.5 million tonnes at 1.5% Cu and 0.75 g/t Au between 1967 and 1982, primarily from the Little Chief deposit. Modern exploration techniques, including induced polarization geophysics, electromagnetic surveys, and gravity methods, identify extensions to known mineralization and previously unrecognized copper-skarn targets beneath post-mineral cover.

Management has articulated an ambitious vision for district-scale resource development. Jason Bontempo has outlined the company's broader resource objectives:

"We are targeting over 100 million tons at above 1% copper not including any credits."

District-scale copper developments in Canadian jurisdictions demonstrate the value creation potential of multi-deposit resource corridors. Successful consolidation of proximal deposits enables shared infrastructure, optimized mine sequencing, and extended mine life that materially enhances project economics and return profiles. Gladiator's land position across the Whitehorse Copper Belt positions the company to pursue this district-scale development strategy.

Management Depth & Operational Execution

Gladiator's management team combines geological expertise, operational experience, and capital markets capabilities that support consistent execution across exploration, development, and financing milestones. Chief Executive Officer Jason Bontempo provides strategic leadership with emphasis on resource expansion and disciplined capital deployment. Vice President Exploration Kell Nielsen brings discovery credentials, including instrumental involvement in the discovery and development of Wallaby Gold Mine for Placer Dome, which hosts approximately 7 million ounces of gold. Nielsen contributes more than 30 years of geological experience to the company's exploration programs.

Director Shawn Khunkhun contributes capital markets experience spanning more than 20 years, having raised over $1 billion in equity for resource companies throughout his career. This combination of technical expertise and financing capability mitigates execution risks common in junior mining companies, where geological success often fails to translate into shareholder value due to poor capital allocation or inadequate market positioning.

For institutional investors evaluating copper development opportunities, management track records represent critical differentiation factors. Teams demonstrating discovery success, resource definition competence, permitting proficiency, and prudent financial management attract capital allocations even during challenging market conditions.

The Investment Thesis for Copper & Gladiator Metals

The investment rationale for Gladiator Metals encompasses multiple de-risking factors and strategic positioning within North America's copper supply chain.

• High-grade continuity defines the Cowley Park opportunity, with consistent near-surface copper-gold intercepts across the Southern Limb providing tangible evidence of a scalable resource approaching maiden estimate delivery in Q2 2026.
• Multi-metal leverage from gold, silver, and molybdenum co-products provides potential for improved project economics and margin resilience across commodity price cycles, subject to completion of metallurgical test work and recovery optimization, transitioning Cowley Park from a copper-only asset to a diversified base metal project with precious metal credits.
• De-risking milestones including the October 2025 YESAB recommendation for Class 3 permit approval and imminent maiden resource definition enhance visibility on execution timelines and reduce development risk premiums applied by institutional investors.
• Financial strength through approximately $27M working capital as of October 2025 provides full funding through maiden resource delivery in 2026, eliminating near-term dilution risk and demonstrating management discipline in capital allocation decisions supported by institutional shareholder backing.
• Jurisdictional advantage positions the Whitehorse Copper Project on the western margin of Whitehorse City in Canada's Yukon Territory, with proximity to established infrastructure including the Yukon power grid, the South Klondike Highway and Alaska Highway within 2km, and access to labor resources from a city of approximately 30,000 residents, while proactive community engagement with First Nations establishes social license for long-term operations.
• District-scale potential extends beyond Cowley Park through an expansive 50,000m drill program targeting multiple prospects within the historic Whitehorse Copper Belt, offering resource expansion potential and greenfield discovery opportunities across a 35km mineralized corridor.

From Historical District to Modern Copper Growth Story

Gladiator Metals' consistent high-grade intercepts at Cowley Park, combined with near-surface accessibility and multi-metal credits, position the company to deliver a maiden resource that meets institutional investor requirements for technical certainty, economic viability subject to future studies, and jurisdictional stability.

The progression from resource definition to development optionality across the broader Whitehorse Copper Belt advances Gladiator toward becoming a cornerstone asset in North America's domestic copper supply chain. With permitting momentum toward Q1 2026 Class 3 approval, financial capacity through 2026, institutional backing, and demonstrated technical success, the company targets delivery of its maiden NI 43-101 resource in Q2 2026, positioning itself within Canada's emerging generation of copper developers.

For investors evaluating copper development opportunities, Gladiator's combination of high-grade near-surface mineralization, favorable jurisdiction with established infrastructure and community engagement, and execution visibility toward maiden resource delivery provides exposure to Canadian copper development in a district with validated historical production and district-scale exploration potential.

TL;DR

Gladiator Metals' October 2025 drilling results at Cowley Park confirm 400m of high-grade copper-gold continuity, with intercepts including 14.0m @ 2.36% Cu and 2.78 g/t Au from just 33m depth. The company extends mineralization 150m eastward on the Southern Limb while advancing toward a maiden NI 43-101 resource in Q2 2026. YESAB's recommendation to proceed with the Class 3 permit—expected for final approval in Q1 2026—unlocks expanded drilling capacity across the historic Whitehorse Copper Belt. Backed by $27M treasury and institutional investors, Gladiator operates four drill rigs across a 35km district targeting over 100 million tonnes above 1% copper. Multi-metal credits from gold, silver, and molybdenum enhance project economics in Canada's stable Yukon jurisdiction.

FAQs (AI-Generated)